Mortgage REIT Orchid Island Capital (ORC) trades at $14.70 after its IPO last night at $15. The...

|About: Orchid Island Capital (ORC)|By:, SA News Editor

Mortgage REIT Orchid Island Capital (ORC) trades at $14.70 after its IPO last night at $15. The experience is similar to other mREIT IPOs - priced at book value and then a selloff in the first day of trade. The company is an agency MBS investor managed by Bimini (BMNK.PK) - a formerly-listed, now OTC-traded mREIT.